Air Canada enters into an agreement with Transat A.T. to pursue combining the two companies:
https://aircanada.mediaroom.com/2019...-two-Companies
Quote:
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MONTREAL, May 16, 2019 /CNW Telbec/ - Air Canada announced today that it has entered into an exclusive agreement with Transat A.T. Inc. (Transat) regarding the proposed purchase by Air Canada of all issued and outstanding shares of Transat and its combination with Air Canada. The proposed transaction, valued at approximately $520 million or $13.00 per share of Transat (on a fully-diluted basis), will create a Montreal-based global travel services company in leisure, tourism and travel distribution operating across Canada and internationally. Air Canada has all the necessary funding required to complete the transaction which is accordingly not subject to financing conditions.
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